CWW’s chairman snaps up stock after price collapse November 16, 2011 CABLE & Wireless Worldwide (CWW) chairman John Barton has snapped up £23,000 worth of shares in the company after its dramatic price collapse yesterday. The company tanked after reporting losses of £443m – fueled by writedowns of more than £620m – and said it planned to scrap its dividend. Chief executive John Pluthero – who [...]
Reed Elsevier says it is on track November 16, 2011 Anglo-Dutch publishing and events group Reed Elsevier has posted a one per cent rise in underlying sales for the first nine months of the year and said macroeconomic uncertainty had only a marginal effect on its results. Each of its five business areas showed underlying growth, excluding the effect of trade shows that happen every [...]
Auto Trader cash for Guardian November 16, 2011 Guardian newspaper owner GMG is set to collect a dividend of some £45m from its stake in motoring classifieds business Auto Trader. GMG will share a bumper pay-off with co-owner Apax Partners, which bought its stake from GMG in 2007. The cash will be welcomed by the media group, which has struggled to climb into [...]
Spotify continues growth drive November 16, 2011 Online music service Spotify continued its global expansion, adding Belgium and Switzerland to its operations. Earlier this week it also made its service available in Austria. The drive follows its long awaited move into the key US market.
World survey sees new woe for economy November 16, 2011 ALREADY weak economic conditions are set to worsen over the next six months, according to the Ifo World Economic Survey (WES), out yesterday. The global climate index has worsened from 97.7 in the third quarter to 78.7 in the fourth quarter. Such a drop takes the index below its long-term average, 96.9, and well down [...]
Report: London’s shops are the best in Europe November 16, 2011 SHOPS in the capital are the best in Europe, according to a continent-wide study of retail destinations by the Economist Intelligence Unit (EIU) and Global Blue, published yesterday. Out of a possible score of 100, London came in at 80.6 in the shopping index, with Paris second at 74.7 and Madrid third with 69.3. Thirty-three [...]
Real earnings rebound in the United States November 16, 2011 FALLING prices and rising wages are boosting US consumers’ spending power, figures released yesterday by the Bureau of Labor Statistics revealed. Average hourly earnings rose 0.2 per cent from September to October, while the consumer price index fell by 0.1 per cent over the same time period, leading to an overall rise in real wages [...]
BEST OF THE BROKERS November 16, 2011 CARLSBERG Goldman Sachs has downgraded the brewer to “neutral” following recent outperformance, and has a target price of 428 crowns. While the firm’s results last week were strong, the broker now sees better upside potential elsewhere in the drinks sector, given Carlsberg’s exposure to the competitive western European markets. Goldman expects Carlsberg’s Russian beer market [...]
Fears for UK economy knock FTSE lower in volatile trading November 16, 2011 AFTER yet another rollercoaster session, Britain’s top share index ended a touch lower yesterday, as upbeat US economic data proved a welcome distraction for investors gripped by concern over the UK economy and Europe’s debt crisis. The UK benchmark closed down 8.42 points, or 0.2 per cent, at 5,509.02, after a session in which it [...]
Eurozone dangers prompt a sell-off November 16, 2011 US stocks fell yesterday, with selling accelerating late in the session on more warnings about the potential impact of the Eurozone’s debt crisis on the global economy and the banking system. Worries about growth weighed on sensitive sectors like financials and materials. Losses deepened after ratings agency Fitch said even though the outlook on the [...]
